30964 Overseas Hwy Big Pine Key, FL 33043-3404

This exceptional investment opportunity presents a 1,600-square-foot, free-standing retail building in Big Pine Key, Florida, operating as a cannabis dispensary. Located at 30964 Overseas Highway, this property boasts a highly desirable location with a drive-through, a rare feature now prohibited in new constructions. The building, originally constructed in 1984, underwent renovations in 2019 and 2022 (roof replacement). The property sits on a 20,844-square-foot lot and is currently under a triple-net (NNN) lease with a 15-year term commencing October 1, 2023, and expiring September 30, 2038. The lease includes a 3% annual rent escalation. The current tenant enjoys 100% occupancy, generating a net operating income (NOI) of $96,000 annually, representing a 6.25% cap rate at the asking price of $1,536,000 ($960 per square foot). The tenant has no credit rating. The property's value is further enhanced by Monroe County's consideration of building moratoriums and restricted new construction permits, mitigating future competition. This is a single-tenant, single-story building with a strong, long-term lease, making it an attractive investment in a growing market. The APN is 00111310-000000.